By Andrew P. Napolitano
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Fisker Automotive is an American automaker based in Anaheim, California. The company's first product is the Fisker Karma, one of the world's first production plug-in hybrid electric vehicles. It debuted at the 2008 North American International Auto Show, creating the premium green car segment in which most major manufacturers have since announced they would compete. - Source: Wikipedia
Fisker Automotive, the hybrid carmaker based in Anaheim, Calif., announced Friday that it would lay off 75 percent of its workforce, a sign the onetime darling of the “greens” is sputtering toward the end of the road. This story grows ever more familiar.
A House Oversight and Government Reform subcommittee is set to investigate Fisker Automotive, the failing electric-car manufacturer that was granted $529 million by the Obama administration.
Government-backed luxury carmaker Fisker Automotive has bought thousands of batteries from A123 Systems under an exclusive supply deal, but now the auto company may have to look for another power source for its high-end, plug-in hybrid Karma vehicles — and at a hefty cost.
The recent bankruptcy of battery maker A123 Systems after it won a nearly quarter-billion-dollar federal grant threatens the business prospects of another well-known government-backed company: luxury car manufacturer Fisker Automotive.
FEWER DEALS, LESS MONEY: Startup investments slipped to $7 billion in the second quarter, down 12 percent from $8 billion in the same period a year earlier according to a report Friday. There were 898 deals completed during the quarter, down from 1,057 a year earlier.
Fisker Automotive, a maker of electric cars that received a half-billion-dollar loan from the federal government and millions more from Delaware economic development officials, says it has laid off workers in Delaware and California.
